ASAP

Your answer is partially correct. Nash Company obtained land by issuing 2,660 shares of its $16 par value common stock. The land was recently appraised at $126,530 The common stock is actively traded at $46 per share. Prepare the journal entry to record the acquisition of the land. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit Land 126530 Common Stock 42560 Pald-in Capitalin Excess of Par-Common Stock 83970